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Technology Stocks : Siebel Systems (SEBL) - strong buy?

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To: Nick Tingle who started this subject1/25/2003 9:33:59 AM
From: hueyone   of 6974
 
re: Siebel's Options Overhang Revisited---A Whopping 74%

I have heard from a third source that the definition for "Options Overhang" is indeed: (Options Available (authorized) for Grant + Stock Options Outstanding) divided by Shares Outstanding. This matches the two definitions I found on the web. So in Siebel's case as of the end of Q3, September 30, 2002, we have

159,730,054 authorized for grant
plus
194,205,326 options outstanding

Equals 353,935,380 options

Divided by 478,218,000 shares outstanding

Equals a whopping 74% Options Overhang for Siebel!!!!!
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